In the news
5 Apr 2021

IL&FS receives Rs 693 crore settlement claims from NHAI for two projects

IL&FS Transportation Networks (ITNL), a subsidiary of IL&FS, on Sunday said it has received a settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway (KNCEL) and Rs 20 crore towards claims for Chenani Nashri Tunnelway (CNTL), from the National Highways Authority of India (NHAI). The amount was received on March 31, Infrastructure Leasing and Financial Services (IL&FS) said in a statement

In the news
5 Apr 2021

IL&FS gets Rs 693 cr for 2 road projects

Debt-laden Infrastructure Leasing & Financial Services Ltd (IL&FS) said on Sunday that its unit ITNL has received a settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway Ltd (KNCEL) and Rs 20 crore towards claims for Chenani Nashri Tunneway Ltd (CNTL) from the National Highways Authority of India (NHAI). With these two projects, NHAI and the ministry of road transport and highways (MoRTH) have settled claims of more than Rs 1,804 crore so far across six road projects of IL&FS

Press release
4 Apr 2021

IL&FS RECEIVES RS 693 CRORE SETTLEMENT CLAIMS FOR TWO ROAD PROJECTS FROM NHAI

ITNL, a subsidiary of IL&FS, on March 31, 2021 has duly received settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway Limited (KNCEL) and Rs 20 crore towards claims for Chenani Nashri Tunnelway Limited (CNTL) - from National Highways Authority of India (NHAI). With these two projects, NHAI and MoRTH have settled aggregate IL&FS claims of over Rs 1,804 crore across 6 Road projects.

Press release
1 Apr 2021

IL&FS COMPLETES STAKE SALE IN CHINA ROAD ASSET TO PINGAN, ADDRESSES RS 2,600 CRORE DEBT

In a major step towards resolving overall debt, IL&FS today announced completion of its 49% stake sale in its Chinese Road Asset - Chongqing Yuhe Expressway Co Ltd (CYEC) The stake is sold to China Merchants & PingAn Infrastructure Phase 1 Equity Investment Fund (Tianjin) Co Ltd (PingAn), a fund jointly owned by PingAn Insurance and China Merchants. This is the largest transaction for IL&FS since the sale of its Wind Energy assets to Orix.

In the news
31 Mar 2021

IL&FS Transport classified fraud by P&S Bank

Punjab & Sind Bank said on Tuesday that it has classified its loan exposure of Rs 150 crore to IL&FS Transportation Network (ITNL) as fraud. The bank said that it informed the RBI about the fraud on March 30.

In the news
28 Mar 2021

Rapid Metro : Haryana told to deposit Rs 1.9K cr for now

The Haryana Government has been directed by the Supreme Court to deposit Rs 1,925crore within three months into an escrow account while hearing a dispute between the state's urban development authority, HSVP and Infrastructure company IL&FS on the Rapid Metro corridor in Gurgaon

In the news
27 Mar 2021

SC directs Haryana govt to pay Rs 1,925 cr to IL&FS

In a relief to beleaguered IL&FS, the Supreme Court on Friday directed the Haryana government to pay Rs 1.925 crore to the infrastructure company after the Haryana Shehri Vikas Pradhikaran (HSVP) failed to pay dues to the firm. IL&FS had bagged the two-phase Gurgaon Metro Project, which was developed through its subsidiary SPVs, Rapid Metro Rail Gurgaon and Rapid Metro Rail Gurgaon South, in 2009 and 2013

Press release
26 Mar 2021

IL&FS wins Gurgaon Metro Project case: Supreme Court directs Haryana Government arm to deposit Rs 1,925 crore in escrow within 3 months

In a major development, the Hon'ble Supreme Court today ruled in favor of IL&FS in the Gurgaon Metro Project case As part of the judgment, the Supreme Court has directed Haryana Shehari Vikas Pradhikaran (HSVP) to deposit 80% of total "debt due" (over Rs 2,400 crore), amounting to Rs 1,925 crore, within 3 months into the Escrow Accounts The Supreme Court order added that appropriation of any amount from the said Escrow Account shall be subject to further orders of the NCLAT or any other competent legal authority.

In the news
18 Mar 2021

Restoration of stolen MF units is an additional tailwind for Dalmia Bharat

Anyone would heave a sigh of relief when something that's stolen from them is restored. The Supreme Court verdict allowing Dalmia Bharat Ltd access to its stolen mutual fund units has resulted in a huge sigh of relief on the Street. The case has also cast aspersions related to corporate governance norms at the company in some quarters, and the court's verdict is therefore being welcomed with open arms. While units worth Rs 380 crore were stuck in the case, the company's market capitalization rose by nearly Rs 750 crore. In February 2019, the company had claimed that certain mutual fund units were fraudulently transferred by its broker Allied Financial Services to its own account. These units were used by Allied Financial Services and its directors as margin with IL&FS Securities Services for futures and options trades

In the news
17 Mar 2021

SC Orders Release of Rs 344 Cr MF Units to Dalmia Bharat

The Supreme Court on Tuesday ordered IL&FS Securities Services (ISSL) to release mutual fund units worth Rs 344 crore to the Dalmia Bharat Group, instruments the cement maker claimed were stolen by Allied Financial Services (AFS) early 2019. While directing the release of mutual fund units, the apex court told Dalmia to furnish bank guarantees of equivalent amounts until the completion of the trial. Shares of Dalmia Bharat rallied 3.5% to Rs 1,526 on Tuesday

Load more